Pre Market Updates: Thursdays August 30
- Asian markets are trading on a flat note
- Yesterday slide in index heavyweights Reliance Industries, HDFC Bank and Infosys made Nifty50 snap two-day gains,
- Call writing was witnessed in strikes with 11750 CE indicates upper side is in sell pressure.
- Metal, realty, PSU, oil&gas, infrastructure and auto indices doing good right now
- After yesterday’s correction, Nifty is likely to correct further and if it breaks 11,680 levels then major fall is likely.
- Volatility is likely to be high on Thursday due to expiry of August futures & options contracts.
- We can expect Nifty to trade between 11680 and 11780.
The index formed bearish candle on the daily candlestick charts
- Nifty max pain level currently at 11600
- Bank Nifty max pain level currently at 28200
- Nifty PCR at 1.78 versus 1.94
- Nifty Bank PCR at 1.17 versus 1.35
- Nifty: 11800CE, 11500PE
- Bank Nifty: 28500CE , 28000PE